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Lincoln Westmoreland II PDF Print E-mail
Tuesday, 09 June 2009 09:55

In February 2009, the tenants at Lincoln Westmoreland II (LWII) received a notice from their landlord, informing them that the Section 8 contract for their building is set to expire on Jan. 31, 2010. The landlord, Mid-City Financial Corporation, has indicated that although it intends to extend the contract through at least February 28, 2010, it does not intend to renew the contract upon its expiration.

The decision by Mid-City Financial is yet another recent example of landlords who own project-based Section 8 housing in the District deciding against renewing their Section 8 contracts. There are 7,800 project-based Section 8 units set to expire by 2013. Of those, 5,400 units - 55 properties in total - are owned by for-profit landlords. Many for-profit owners decline contract renewal because of opportunities to charge higher rents and generate more rental income on the open market. With each decision against renewal, the number of affordable housing units in DC is reduced substantially. This increases the obstacles to economic sustainability faced by ONE DC members and low-income residents.

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Last Updated on Tuesday, 09 June 2009 11:47